PAPER TRADE (LOSS)

• Setup: -------------------------------------------------------------------- Bounce Play/Intraday Flag Break
• Entry: --------------------------------------------------------------------- $5.93
• Shares: ------------------------------------------------------------------- 500
• Stop: ---------------------------------------------------------------------- $5.83
• T1: ------------------------------------------------------------------------- $6.10
• T2: ------------------------------------------------------------------------- $6.20
• Reward:Risk Ratio (T1): -------------------------------------------- 1.7:1
• Exit: ----------------------------------------------------------------------- $5.85

• Profit/(Loss) With Commission: -------------------------------- ($53.00)

• Details:
  Bounce play/Intraday flag break, 500 shares. This trade was a mistake. I was watching the 1 min timeframe as well as the 50 day moving average on the daily. I was hoping to catch a bounce off the 50dma but the setup just wasn't there. Looking at it in retrospect this was clearly a bear flag on the 1 min timeframe as well as the 5 min timeframe and should have been played as such, as a short. Lesson learned (again): don't fight the tape! See additional charts:

  http://i1155.photobucket.com/albums/p560/ckz8780/8043130b.png